The use of cannulated intramedullary (IM) nails in the internal fixation of fractured long bones is well known in the medical arts. IM nails are inserted in the intramedullary canal of a fractured long bone and fixed across the fracture site to provide increased rigidity of the fracture fragments. Generally, the nails have a longitudinal bore for receiving a guide wire, which is used to assist in the nail insertion. In a conventional nail insertion procedure, the guide wire is inserted into the intramedullary canal from the proximal end of the bone to locate the distal fracture fragment. Thereafter, a series of flexible cannulated reamers are passed in succession over the guide wire to prepare the channel for receiving the IM nail. The IM nail is passed over the guide wire and inserted into the prepared canal. Once the nail is properly inserted, the guide wire is withdrawn and the nail is secured within the fractured bone by locking screws.